Media Releases

SMOE, the Oil and Gas division of SembCorp Utilities, has successfully delivered a $100 million water injection platform contract for the Vietsovpetro Oil Company of Vietnam. The water injection platform arrived in Vung Tau, Vietnam on January 13, 2002, two days ahead of the contract delivery schedule.

Pursuant to Clause 902(3)(c) of the Listing Manual of the Singapore Exchange Securities Trading Limited, we confirm that, as far as to our knowledge, as at todate, none of the persons holding managerial positions in the Company is related to a director or substantial shareholder of the Company or of any of its subsidiaries.

As part of SembCorp Marine’s plans to divest its non core activities and to remain focused on its marine activities of ship repair, shipbuilding, ship conversion and offshore businesses, the Board of Directors of SembCorp Marine Ltd wishes to announce that:

Jurong Shipyard’s associated company, Jurong Shipyard Inc. (JSI) has on January 3, 2002 signed a Memorandum of Understanding with Brazil’s Estaleiro Ilha S.A. (EISA) with the intention to acquire up to 80 per cent of EISA, a shipbuilding yard in Rio de Janeiro, Brazil.

SMOE, the Oil and Gas division of SembCorp Utilities (SembUtilities), has recently been awarded a contract for an offshore oil production platform and bridged-linked living quarters for Maersk Oil and Gas, a member of the Denmark-based A.P. Moller Group. The platform will be located in Danish waters and represents SMOE’s first contract in the North Sea. The contract has a value of approximately S$150 million.

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